Largest shareholders’ proposal for Board composition for Efecte Plc’s Annual General Meeting: two awarded IT professionals from Germany nominated

EFECTE PLC -- COMPANY ANNOUNCEMENT – 21st January 2020 at 14:00

Largest shareholders’ proposal for Board composition for Efecte Plc’s Annual General Meeting: two awarded IT professionals from Germany nominated

Efecte Plc’s largest shareholders which represent approximately 40 % of shares in Efecte Plc have informed Efecte’s Board of Directors that they will propose to the Annual General Meeting to be held on 22 April 2020 that a total of six members shall be elected Efecte Plc’s Board of Directors and that Brigitte Falk and Esther Donatz shall be elected as new members of the Board of Directors. According to the proposal, current members Pertti Ervi, Turkka Keskinen, Kari J. Mäkelä and Päivi Rekonen shall be re-elected to the Board of Directors. Hannu Vaajoensuu, a current member of Efecte Plc’s Board of Directors, has informed that he is not available for re-election.

Brigitte Falk and Esther Donatz are both German citizens, and their appointment further establishes Efecte’s foothold and growth plans in the DACH area.

Brigitte Falk (b. 1963) has been elected as the CIO of the year in 2018 (CIO magazine SME Germany) and 2019 (Women in IT Europe Award) and has broad experience in senior management positions relating to IT and digitalization projects. She has served in management positions and carried out numerous digitalization projects at SAP, Simplicity Company, Celesio and most recently at CRONIMET. Falk holds a degree in pedagogy from Eberhard Karls University Tübingen, Germany and in executive management from Malik Management Center St. Gallen, Switzerland.

Esther Donatz (b. 1963) has broad experience in sales, SaaS businesses, and cloud services businesses from international management positions. Donatz has served at, e.g., T-Systems International, VMware, F5 Networks and 3Com where she has been responsible with her teams for global and strategic customer accounts, complex projects and sales both directly and via partner channel. In 2018, Donatz received the “IT Woman of the Year – Gold” award. Donatz holds a degree as certified translator and interpreter specialized in technology from Munich’s Academy for Foreign Languages.

The company will publish the notice of the meeting and the agenda, including proposal for the election of members of the Board of Directors, later.

Further enquiries:

Pertti Ervi

Chairman of the Board

Efecte Plc



 153

Certified Adviser:

Evli Bank Plc, tel 0

Efecte Plc

Efecte is a Finnish software company offering cloud-based Service Management solutions and related supportive professional services. With Efecte’s software, organizations can flexibly manage all internal and external services, for example, an IT, HR or finance department’s services, customer service and access rights. Efecte is one of the leading software vendors in its field for medium-sized and public organizations in Finland and the Nordic countries. The company was established in 1998 and is listed on the Nasdaq First North Growth Market Finland marketplace. Efecte operates in Finland, Sweden, Germany, and Denmark.